Displaying posts tagged with

“public pensions”

Rahm Emanuel Faces Public Pension Crisis

Posted: 04/07/2014 11:45 pm EDT Updated: 04/07/2014 11:59 pm EDT AP | by SARA BURNETT Huffington Post CHICAGO (AP) — Rahm Emanuel has been a force in politics — the mastermind behind a Democratic takeover of Congress, dealmaker in two White Houses and now the hard-charging mayor intent on fixing what ails the nation’s third-largest […]

Struggling, San Jose Tests a Way to Cut Benefits

By RICK LYMAN and MARY WILLIAMS WALSH Published: September 23, 2013 NYTimes SAN JOSE, Calif. — This metropolis of nearly a million residents is the third-largest city in California, home to tens of thousands of technology industry workers, as well as many thousands more struggling to get by. Yet even here, in the city that […]

Braced to Remake Itself, Detroit First Awaits Challenges to Bankruptcy Eligibility

By STEVEN YACCINO Published: August 18, 2013 NYTimes Before Detroit can start remaking itself in bankruptcy court, there is a basic question that stands in its way: Does it even qualify? That might seem like an odd notion in a place wrestling with an estimated $18 billion debt. But unions, creditors and retirees are expected […]

Chicago Sees Pension Crisis Drawing Near

By MONICA DAVEY and MARY WILLIAMS WALSH Published: August 5, 2013 NYTimes CHICAGO — Corporations are moving in, and housing prices are looking better across the region. There has been a slight uptick in population. But a crushing problem lurks beneath the signs of economic recovery in Chicago: one of the most poorly funded pension […]

Public Pensions After Detroit

By THE EDITORIAL BOARD Published: August 3, 2013 NYTimes Detroit’s bankruptcy and the problems facing its pension funds offer two important lessons to other communities. One is that state and local governments need to do a much better job managing retirement funds. The other is that they should not pre-emptively reduce hard-earned benefits at the […]

Michigan attorney general backs pensioners in Detroit bankruptcy

By Susan Kelly Sat Jul 27, 2013 5:14pm EDT Reuters (Reuters) – Michigan’s Attorney General Bill Schuette, a Republican, said on Saturday he would defend retirees who risk losing public pensions because of Detroit’s bankruptcy, putting him at odds with the city’s emergency manager appointed by fellow Republican Governor Rick Snyder. Schuette, an elected official, […]

Underfunded Public Pensions in the United States: The Size of the Problem, the Obstacles to Reform and the Path Forward

Thomas J. Healey Harvard Kennedy School Carl Hess Towers Watson Investment Kevin Nicholson Harvard Kennedy School 2012 http://www.hks.harvard.edu/var/ezp_site/storage/fckeditor/file/pdfs/centers-programs/centers/mrcbg/publications/fwp/MRCBG_FWP_2012_08-Healey_Underfunded.pdf  

Public Pensions in Bankruptcy Court

By THE EDITORIAL BOARD Published: April 13, 2013 NYTimes Devastated by the recession, the city of Stockton, Calif., is trying to renegotiate its debts in a bankruptcy case that could set an important precedent on whether courts can forcibly reduce the pensions of government employees. Like many cities hit hard by the bursting of the […]

Pension Tsunami

The oncoming wave of public pension debt is even bigger than it seems. The purpose of this website is to provide an overview of the multiple pension crises that are about to drown America’s taxpayers. Our primary focus is on California, but we also track other states, corporate pensions, social security and international trends. Now […]

Is Your Pension Safe? Check this Map | Praxis | Big Think

by STEVEN MAZIE JULY 23, 2013, 12:43 PM Big Think If you are one of six or so million state or federal employees in the United States, recent events may be getting you a little worried about your retirement security. The potentially devastating fallout for pensioners in bankrupt Detroit is dominating the airwaves. Here is […]